Kone Oyj (OTCMKTS:KNYJY) Shares Gap Down Following Weak Earnings

Key Points

• Shares gapped down before the open, trading from a prior close of $32.86 to an open of $31.29 and last at $31.39, down about 3.4% on low volume (11,523 shares).
• Kone reported quarterly EPS of $0.24, missing the consensus $0.25 by $0.01, while posting a return on equity of 40.59% and a net margin of 8.76%.
• Analyst sentiment is mixed with recent upgrades and downgrades; MarketBeat shows a consensus rating of "Hold" (one Strong Buy, three Hold, two Sell).

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY - Get Free Report)'s share price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $32.86, but opened at $31.29. Kone Oyj shares last traded at $31.39, with a volume of 11,523 shares.

The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Kone Oyj had a return on equity of 40.59% and a net margin of 8.76%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore raised Kone Oyj to a "hold" rating in a report on Monday, April 13th. Citigroup lowered Kone Oyj from a "buy" rating to a "neutral" rating in a report on Monday, January 26th. BNP Paribas Exane raised Kone Oyj to a "strong sell" rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada raised Kone Oyj from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Kone Oyj presently has a consensus rating of "Hold".

Kone Oyj Trading Down 3.4%

The company's 50-day moving average is $33.72 and its 200-day moving average is $34.44. The firm has a market cap of $28.78 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 1.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 1.08.

About Kone Oyj

Kone Oyj is a Finland-based company that designs, manufactures and services elevators, escalators and automatic building doors. Founded in 1910 and headquartered in Espoo, Kone has grown into a global provider of people-flow solutions, supplying new equipment as well as modernization and maintenance services for a wide range of buildings, including residential, commercial, healthcare, retail and transportation facilities.

The company's core activities include the engineering and installation of elevator and escalator systems, ongoing maintenance programs to ensure safety and uptime, and modernization of aging equipment to improve performance and energy efficiency.

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